Balance of payments of the Republic of Lithuania: September 2022
Today, the Bank of Lithuania published the balance of payments for September 2022, which shows that:
compared to August, the deficit on the current account balance (CAB) slightly narrowed (3.7%) to €276.2 million. This was due to an increase in the services surplus and a narrowing of the primary income deficit, which offset a significant widening of the foreign trade deficit. Exports of services, which increased by 11.0% more than imports (5.1%), contributed 23.4% to the services surplus, amounting to €533.0 million. The foreign trade deficit widened by 26.6% to €705.0 million, driven by an increase in goods imports outpacing goods exports (by 2.3% and 5.2% respectively). The primary income deficit decreased by 34.2% to €120.0 million;
the secondary income balance decreased but remained in surplus at €15.8 million. Inflows from the European Union (EU) structural support funds (€29.2 million) decreased by 9.6%, while Lithuania‘s estimated contributions to the EU budget (€42.7 million) decreased by 0.8%, compared to August. Personal transfers from abroad amounted to €54.6 million, down by 2.8% compared to August. Personal transfers from Lithuania amounted to €34.0 million, down by 2.2%;
the negative net flow of financial account investment (€677.3 million) was mainly driven by the negative net other investment and direct investment flows (see Chart 2).
Chart 1. CAB and its composite flows
Chart 2. Net financial account investment flows
Detailed data for September is available on the Bank of Lithuania website (External statistics).
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